7,337 Shares in Kroger Co (KR) Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. purchased a new stake in Kroger Co (NYSE:KR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,337 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds also recently made changes to their positions in the company. Lavaca Capital LLC acquired a new position in shares of Kroger in the 1st quarter valued at approximately $25,000. Doyle Wealth Management acquired a new position in shares of Kroger in the 4th quarter valued at approximately $26,000. Riverview Trust Co acquired a new position in shares of Kroger in the 4th quarter valued at approximately $26,000. Lindbrook Capital LLC acquired a new position in Kroger during the 4th quarter worth approximately $32,000. Finally, Financial Gravity Companies Inc. acquired a new position in Kroger during the 4th quarter worth approximately $33,000. 82.20% of the stock is owned by institutional investors.

In other news, Director Robert D. Beyer sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $24.52, for a total transaction of $1,961,600.00. Following the sale, the director now owns 126,800 shares in the company, valued at approximately $3,109,136. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.07% of the company’s stock.

A number of equities analysts have weighed in on the company. ValuEngine raised Kroger from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Credit Suisse Group reduced their price target on Kroger from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, March 8th. Pivotal Research reaffirmed a “hold” rating and set a $26.00 price target (down previously from $31.00) on shares of Kroger in a research report on Friday, March 8th. Scotiabank set a $32.00 price target on Kroger and gave the stock a “buy” rating in a research report on Friday, March 8th. Finally, Zacks Investment Research raised Kroger from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Tuesday, February 5th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.33.

Shares of Kroger stock opened at $25.78 on Friday. Kroger Co has a 12-month low of $23.52 and a 12-month high of $32.74. The company has a market cap of $20.58 billion, a PE ratio of 12.22, a P/E/G ratio of 1.55 and a beta of 0.63. The company has a current ratio of 0.76, a quick ratio of 0.28 and a debt-to-equity ratio of 1.54.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Kroger had a return on equity of 23.50% and a net margin of 2.57%. The company had revenue of $28.09 billion for the quarter, compared to the consensus estimate of $28.38 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, equities analysts expect that Kroger Co will post 2.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Tuesday, May 14th. Kroger’s dividend payout ratio is currently 26.54%.

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About Kroger

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.

Further Reading: Market Capitalization and Individual Investors

Institutional Ownership by Quarter for Kroger (NYSE:KR)

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